Form 8-K - Current report
13 November 2023 - 11:17PM
Edgar (US Regulatory)
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0001811074
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2023-11-10
2023-11-10
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or
15(d) of the Securities Exchange Act of 1934
Date of report (Date of
earliest event reported): November 10, 2023
Commission File Number: 1-39804
Exact name of registrant as specified in its
charter:
TEXAS PACIFIC LAND CORPORATION
State or other jurisdiction of incorporation or organization: |
|
IRS Employer Identification No.: |
Delaware |
|
75-0279735 |
Address of principal executive offices:
1700 Pacific Avenue, Suite 2900
Dallas, Texas 75201
Registrant’s telephone
number, including area code:
214-969-5530
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ |
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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¨ |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company
¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Securities registered pursuant to Section 12(b) of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
Common
Stock (par value $.01 per share) |
|
TPL |
|
New York Stock Exchange |
Item 5.07 |
Submission of Matters to a Vote of Security Holders. |
At the 2023 annual meeting
of stockholders (the “Annual Meeting”) of Texas Pacific Land Corporation (the “Company”) that was convened on
November 10, 2023, the stockholders of the Company voted on nine proposals.
Each stockholder of record
is entitled to one vote per share of common stock. On September 14, 2023, the record date for the Annual Meeting (the “Record Date”),
there were 7,676,585 issued and outstanding shares of common stock. Present at the Annual Meeting in person or by proxy were holders of
6,130,089 shares of common stock or 79.85% of the voting power entitled to vote at the Annual Meeting as of the Record Date, constituting
a quorum.
The Inspector of Election
issued its final report, which certified final voting results with respect to all proposals voted upon at the Annual Meeting. Set forth
below are the final voting results, as provided by the Inspector of Election:
Proposal 1:
To elect three (3) members of the Company’s
Board of Directors to serve until the 2024 annual meeting of stockholders.
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
Robert Roosa |
|
4,113,916 |
|
379,724 |
|
139,667 |
|
1,496,782 |
Murray Stahl |
|
4,141,644 |
|
472,017 |
|
19,646 |
|
1,496,782 |
Marguerite Woung-Chapman |
|
4,035,891 |
|
494,060 |
|
103,356 |
|
1,496,782 |
Proposal 2:
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
To approve, by advisory non-binding vote, the executive compensation paid to our named executive officers. |
|
3,735,523 |
|
841,685 |
|
56,099 |
|
1,496,782 |
Proposal 3:
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
To ratify
the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending
December 31, 2023. |
|
5,742,191 |
|
253,266 |
|
134,632 |
|
0 |
Proposal 4:
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
To consider a non-binding stockholder proposal regarding the stockholders’ ability to call for a special stockholder meeting. |
|
2,790,007 |
|
1,799,137 |
|
44,163 |
|
1,496,782 |
Proposal 5:
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
To consider a non-binding stockholder proposal regarding adopting a policy that requires an independent Chair of the Company’s Board of Directors. |
|
959,602 |
|
3,607,743 |
|
65,962 |
|
1,496,782 |
Proposal 6:
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
To consider a non-binding stockholder regarding adopting a policy requiring executives to retain a significant portion of stock until retirement. |
|
1,363,789 |
|
3,198,829 |
|
70,689 |
|
1,496,782 |
Proposal 7:
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
To consider a non-binding stockholder proposal regarding stockholders’ ability to act by written consent. |
|
2,645,746 |
|
1,916,755 |
|
70,806 |
|
1,496,782 |
Proposal 8:
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
To consider a non-binding stockholder proposal regarding adopting a policy to request that the New York Stock Exchange not categorize any increase in the authorized number of shares as routine. |
|
817,075 |
|
3,758,431 |
|
57,801 |
|
1,496,782 |
Proposal 9:
|
|
Votes For |
|
Votes Against |
|
Abstentions |
|
Broker
Non-Votes |
To consider a non-binding stockholder proposal regarding severance pay to senior managers as a breach of fiduciary duty. |
|
937,343 |
|
3,640,625 |
|
55,339 |
|
1,496,782 |
No other matters were properly presented for consideration or stockholder
action at the Annual Meeting.
Effective as of
the conclusion of the Annual Meeting, Rhys J. Best was appointed as the new chair of the Company’s Board of Directors (the “Board”),
Robert Roosa was appointed to serve as a member of the Board’s Audit Committee and Compensation Committee, and Marguerite Woung-Chapman
was appointed to serve as a member of the Board’s Audit Committee and Nominating and Governance Committee.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
|
TEXAS PACIFIC LAND CORPORATION |
|
|
Date: November 13, 2023 |
By: |
/s/ Micheal W. Dobbs |
|
|
Micheal W. Dobbs |
|
|
SVP, Secretary and General Counsel |
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